The TANCET MBA rank list is prepared based on the normalized marks obtained by candidates in the entrance examination conducted by Anna University. Raw scores are first calculated by awarding 1 mark for each correct answer and deducting 0.25 marks for each incorrect response. These raw scores are then converted into normalized scores to account for variations in difficulty level if multiple sessions are conducted. The final merit list is prepared based on these normalized marks, and ranks are assigned accordingly for use during the counselling process conducted by DOTE Tamil Nadu.